re: redemption of warrants
Thursday July 24 1:31 PM EDT
Company Press Release
IBIS Technology Corporation Announces Redemption of
Warrants
DANVERS, Mass.--(BUSINESS WIRE)--July 24, 1997--Ibis Technology Corporation
(NASDAQ:IBIS), today announced that it has provided notice that it will redeem in whole the
Company's publicly traded Common Stock Purchase Warrants (Nasdaq:IBISW) on August 26,
1997 (the ``Redemption Date''), at the redemption price of $0.20 per Warrant. If a registered
Warrantholder desires to exercise warrants, such holder must do so by surrendering the duly
completed and executed certificate evidencing the Warrants accompanied by the exercise price
therefore. The exercise of Warrants is subject to state securities law restrictions. All Warrants are
required to be surrendered to Continental Stock Transfer & Trust Company (``the Warrant
Agent'') for receipt no later than 5:00 p.m. New York time on August 25, 1997, the business day
prior to the Redemption Date. Warrantholders may contact the Warrant Agent, Continental Stock
Transfer & Trust Company (212/509-4000), for additional information concerning the exercise
and redemption of Warrants. Any Warrants not exercised by August 25, 1997 will be entitled only
to the redemption price of such Warrants, and the holder thereof shall have forfeited the right to so
exercise. Each Warrant currently entitles the holder thereof to acquire 1.044 shares of the
Company's Common Stock, par value $.008 per share (Nasdaq:IBIS - news), at a price of $8.05
per share. A copy of the Company's prospectus relating to the Common Stock and Warrants can
be obtained from the Warrant Agent.
Ibis Technology Corporation is an advanced materials company which supplies SIMOX-SOI
wafers to the semiconductor industry. SIMOX-SOI wafers are silicon-on-insulator wafers which
enable the production of integrated circuits with significant advantages over circuits constructed on
bulk silicon or epitaxial wafers. The Company produces SIMOX-SOI wafers on advanced
proprietary Ibis 1000 oxygen implantation equipment, utilizing proprietary processing technologies
which the Company believes will enable it to produce SIMOX-SOI wafers for demanding high
volume commercial applications.
THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF
THESE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR
SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OF QUALIFICATION
UNDER THE SECURITIES LAWS OF ANY SUCH STATE.
Contact:
Timothy Burns
Ibis Technology Corporation
(508) 777-4247
or
John P. Kehoe/Van Negris
Kehoe, White, Savage & Co., Inc.
(212) 888-1616 |
